Hong Kong's Fintech Sector Sees Growth Amid Digital Currency Initiatives

According to PANews, Hong Kong's Financial Secretary, Paul Chan Mo-po, highlighted the city's thriving fintech industry during his speech at the 'CCTV Finance Financial Powerhouse—Hong Kong Financial Night' event. He noted that Hong Kong is home to over 1,100 fintech companies, experiencing an annual growth rate of approximately 15%. The city is committed to advancing central bank digital currencies, mobile payments, digital banking, and digital asset trading. Additionally, Hong Kong aims to enhance collaboration with central banks worldwide to promote blockchain-based cross-border trade digital currency settlements, thereby ensuring that financial innovation better serves the real economy.